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Individual Income Tax Rates

RESIDENTS

These rates apply to individuals who are Australian residents for tax purposes.

The above rates do not include the:

  • Medicare levy of 2%

 

Income Thresholds for Medicare Levy Reduction

Individual Income Thresholds

The 2016/17 Medicare Levy low-income thresholds for individuals are as follows:

If your taxable income is equal to or below the lower threshold amount, you do not have to pay the Medicare levy. If your taxable income falls between the lower and upper threshold amounts, you pay only part of the Medicare levy.  If you taxable income is at or above the upper threshold, you pay the full Medicare Levy of 2.0%.  This then applies to the entire amount of taxable income.

 

Medicare Levy Surcharge (MLS)

Income Thresholds

In the 2016-17 Federal Budget, the government announced that it will continue the pause on indexation of the income thresholds for the Medicare levy surcharge and private health insurance rebate for a further three years from 1 July 2018 to 30 June 2021.

Private health insurance rebate and Medicare levy surcharge income thresholds - 1 July 2018 to 30 June 2021

 

Private Health Insurance Rebate Income Thresholds

Income Thresholds

From 1 July 2015, the income thresholds used to calculate the Medicare levy surcharge and private health insurance rebate will remain unchanged for six years. The thresholds remain at the 2014–15 levels from 2015–16 to 2020-21.

 

Superannuation Contributions Cap

Concessional contributions include:

  • employer contributions (including contributions made under a salary sacrifice arrangement)

  • personal contributions claimed as a tax deduction.

If you have more than one fund, all concessional contributions made to all of your funds are added together and counted towards the concessional contributions cap.

Concessional contributions general cap for the given income year.

Non-concessional Contributions Caps – 2017 and 2018

Non-concessional contributions include personal contributions for which taxpayers do not claim an

income tax deduction1.

Unused concessional cap carry forward

From 1 July 2018 if you have a total superannuation balance of less than $500,000 on 30 June of the previous financial year, you may be entitled to contribute more than the general concessional contributions cap and make additional concessional contributions for any unused amounts.

The first year you will be entitled to carry forward unused amounts is the 2019–20 financial year. Unused amounts are available for a maximum of five years, and after this period will expire.

 

Motor Vehicle Cents Per Kilometre Rates

Changes to Cents per kilometre method

The cents per kilometre method is available for use with some changes. Separate rates based on the size of the engine are no longer available from 1 July 2015. Under the revised method, individuals use 66 cents per kilometre for all motor vehicles for the 2016–17 income year. The Commissioner of Taxation will determine the rate for future income years.

 

  • Your claim is based on 66 cents per kilometre for 2016–17 income year

  • You can claim a maximum of 5,000 business kilometres per car

  • You don't need written evidence but you need to be able to show how you worked out your business kilometres (for example, by producing diary records of work-related trips).

Where you and another joint owner use the car for separate income-producing purposes, you can each claim up to a maximum of 5,000 kilometres.

 

Due Lodgement Dates

BAS Due Lodgement Dates